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How group health insurance covers offered by banks work

Published in Moneycontrol. How group health insurance covers offered by banks work COVID-19 has made everyone sit up and take notice of the importance of having an adequate health insurance cover. But if you are a senior citizen, you may be more vulnerable to the pandemic. If you don’t have sufficient health insurance cover, then there is a […]

Liability insurance is offered as an add-on with home policies

Liability insurance is offered as an add-on with home policies Published in Livemint. Written by Abhishek Bondia We made a claim on our family health insurance, which we have been renewing for the past 10 years, in 2016 for my husband’s appendix operation. There were no claims before or after that. Will the subsequent years […]

Monthly health plan premiums a positive, but there’s a flip side

Published in Livemint. More and more first-time buyers in the younger age brackets are opting for the monthly premium option when going for health insurance policies, the recent buying pattern on Policybazaar.com, an online marketplace for insurance, shows. The monthly premium option was introduced by the Insurance Regulatory and Development Authority of India (Irdai) in April to […]

Policy evolution post-COVID-19

Published in Asia Insurance Review. A new social ecosystem and work environment is emerging as society deals with the pandemic. Insurance, too, will be transformed. SecureNow.in co-founder Kapil Mehta said, “There will be a significant shift in the insurance covers. “Offices and factories were non-operational and unoccupied for long periods and subject to significant silent […]

Go to the insurance ombudsman to complain about policy mis-selling

Published in Mint on Oct 13 2016, Written by Abhishek Bondia I was promised double returns with additional benefits after 3 years, over the phone, while buying an insurance policy. But when I asked for the returns after 3 years, the company denied as the documents I had signed did not promise it. They […]

Insurers charge an extra premium equal to the out-patient department cover provided

Published in Mint on Oct 06 2016, Written by Abhishek Bondia Is there any health cover which covers medical tests as well, or is it only for hospitalisation? I need to do medical tests on a regular basis due to diabetes. —Arjun Singh There are several health insurance plans that provide outpatient (OPD) cover. […]

You can use a single e-insurance account to hold all your policies

Published in Mint on Sep 29 2016, Written by Abhishek Bondia Can a policyholder have multiple e-insurance accounts if he has insurance policies issued by various insurers? —Nitin Sharma Every investor should have only a single e-insurance account. Using one account, you can store multiple insurance policies issued across various insurers. The purpose of a […]

Borrower’s insurance is not mandatory. IRDAI does not require you to buy any insurance for loan purposes

Published in Mint on Sep 06 2016, Written by Abhishek Bondia What is covered in borrower’s insurance? I have read that it should cover accidents, critical illness, death and loss of job.What are the Insurance Regulatory and Development Authority of India (IRDAI) norms for this? If a bank grants home loan to a salaried person, […]

Old term insurance plans can be revived by paying unpaid premiums

Published in Mint on Aug 30 2016, Written by Abhishek Bondia What is a life annuity cover? Is it a good option for a life insurance plan? —Rajbir Singh In a life annuity plan, annuity payments continue till the death of the person covered, irrespective of age. There are several forms of annuities available. In […]

You can challenge the rejection of a health insurance claim

Published in Mint on Aug 23 2016, Written by Abhishek Bondia Reports from the pre-issuance medical test and doctors’ consultation are expected to identify pre-existing ailments My mother, 52, has been diabetic for the past 5-6 years. She has a family floater health insurance and I am the sponsor. Her condition was declared at the […]

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Definitioner

Claim: Claim - means a demand made by You or on Your behalf for payment of Medical Expenses or any other expenses or benefits, as covered under the Policy
Doctor: Doctor means a person who holds a qualification in medicine from a recognized institution and is registered by state council, governed by the Medical Council of India in which he operates and is practicing within the scope of such license and will include (but is not limited to) physicians, specialists and surgeons who satisfy the aforementioned criteria.
Policy: "Policy" means this document of Policy describing the terms and conditions of this contract of insurance, including the company's covering letter to the insured if any, the Schedule attached to and forming part of this Policy, the Insured's Proposer form and any applicable endorsement thereon. The Policy contains details of the scope and extent of cover available to the Insured/Insured Person, the exclusions from the scope of cover and the terms and conditions of the issue of the Policy.
Insured: "Insured" means the individual who has a permanent place of residence in India and on whose name the Policy is issued.
Illness: "Illness" means sickness or disease first diagnosed during the period of insurance for which immediate treatment by a Medical Practitioner is necessary.
Family: "Family" means the Insured, his/her lawful spouse and maximum of two dependent children up to the age of 23 years. xii) Arthritis, goutandrheumatism.
Disease: "Disease" means an alteration in the state of the body or of some of its organs, interrupting or disturbing the performance of the functions, and causing or threatening pain and weakness or physical or mental disorder and certified by a Medical Practitioner.
Accident: "Accident" means a sudden, unforeseen and unexpected physical event beyond the control of the Insured/Insured Person resulting in bodily injury, caused by external, visible and violent means.